According to Jinshi, the UK National Statistics Office said on Tuesday that wages excluding bonuses in the fourth quarter of the UK increased by 6.2% year-on-year, lower than the upwardly revised 6.7% recorded in the three months ending November, but higher than economists' expectations of 6%. The data showed that the labor market is not cooling fast enough to satisfy policymakers, who are concerned about the upward spiral of wages and prices. The market generally predicts that inflation will reach the 2% target in the spring, although the time is short, and the money market expects the Bank of England to keep interest rates at a 16-year high until at least June. After the data was released, the pound reversed its decline against the dollar.